Iraqi oil minister emphasizes global need for fossil fuels at climate week

Shafaq News / Iraqi Oil Minister, Hayyan Abdul Ghani, emphasized on Sunday that the world still requires fossil fuels due to the increasing demand for oil in global markets.

During his speech at the United Nations Climate Week held in the Saudi capital, Riyadh, Abdul Ghani stated that both fossil fuels and clean energy sources require substantial investments. Baghdad has shifted its focus towards using natural gas for electricity generation, according to Sky News Arabia.

In a related context, the Iraqi Minister predicted that oil demand would rise by approximately two million barrels per day next year, confirming that the world still relies on fossil fuels.

It is noteworthy that Iraq's government achieved financial revenues of $9.5 billion from crude oil exports in September, exporting around 103 million barrels of oil.